Talk:Bellosguardo Foundation

Problem with designation

The Bellosguardo Foundation is incorporated as a 501c3 charitable foundation for the purpose of fostering the arts. To label it a private foundation is misleading. — Preceding unsigned comment added by 2600:387:8:9:0:0:0:C2 (talk) 00:07, 24 April 2018 (UTC)

Not so. The foundation files an annual tax return called the Form 990-PF Return of Private Foundation. It is both a 501(c)(3) as shown on Line H of that form, where the option checked is "Section 501(c)(3) exempt private foundation." To say that something can't be both a 501(c)(3) and a private foundation is misleading. Read, for example, the explainer from the Foundation Group, which explains, "When starting a 501(c)(3) organization, there are generally two choices of how the organization will be classified. It can be a public charity or a private foundation." See, the same organization can be both a 501(c)(3) and a private foundation. See https://www.501c3.org/public-charity-vs-private-foundation/.Last dividend (talk) —Preceding undated comment added 00:31, 23 September 2019 (UTC)

It is your comment that is not just misleading, but blatantly false ... Bellosguardo is a private foundation and is not a charitable foundation.

https://www.irs.gov/charities-non-profits/charitable-organizations/private-foundations

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Every organization that qualifies for tax exemption as an organization described in section 501(c)(3) is a private foundation unless it falls into one of the categories specifically excluded from the definition of that term (referred to in section 509(a)). In addition, certain nonexempt charitable trusts are also treated as private foundations. Organizations that fall into the excluded categories are institutions such as hospitals or universities and those that generally have broad public support or actively function in a supporting relationship to such organizations.

Even if an organization falls within one of the categories excluded from the definition of private foundation, it will be presumed to be a private foundation, with some exceptions, unless it gives timely notice to the IRS that it is not a private foundation.

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So please don't post false, baseless claims here. Jibal (talk) 12:25, 13 June 2022 (UTC)

With its new tax filing in May 2014, Bellosguardo has filed a standard IRS Form 990, no longer a 990-PF, indicating that it has completed the 60-month transition from a private foundation to a public charity, with the requried public support. This article has been updated, removing the designation as a private foundation. Either way, it's still a 501(c)(3). Link to the state site for reading the tax return is also added to the article.Sb travel pro (talk) 19:31, 1 September 2024 (UTC)